HILL ST. YALE ST. CHAVEZ RAVINE PL. STADIUM WAY 959 E. STADIUM WAY LOS ANGELES, CA 110 110 www.959EastStadiumWay.com 959 E. Stadium Way Los Angeles, CA Multifamily Development Site – ±1.44 Acres of Land Intersection of NWC Stadium Way and Chavez Ravine Place For up to ±264 Residential Units R4 Zoning – TOC Tier 3 DOWNTOWN LOS ANGELES CHINATOWN
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DOWNTOWN LOS ANGELES€¦ · Local area parks include the Los Angeles State Historic Park (Chinatown), Grand Park, Vista Hermosa Park, Echo Park Lake, and Griffith Park. Greater Echo
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HIL
L ST
.
YALE
ST. CH
AVEZ
RAV
INE
PL.
STADIUM WAY
959 E. STADIUM WAYLOS ANGELES, CA
110
110
www.959EastStadiumWay.com
959 E. Stadium Way Los Angeles, CA
Multifamily Development Site – ±1.44 Acres of LandIntersection of NWC Stadium Way and Chavez Ravine Place
For up to ±264 Residential UnitsR4 Zoning – TOC Tier 3
›Downtown LA ................................................................................................................... 27
›Echo Park ........................................................................................................................... 33
›Silver Lake ......................................................................................................................... 35
›LA Metro Map ................................................................................................................... 37
I . E x e c u t i v e S u m m a r y
CBRE, Inc. is pleased to present for sale a ±62,584 square foot (±1.44 acre) infill multifamily development site with the potential to build up to 264 units located in Los Angeles, California.
Situated at the northwest corner of Stadium Way and Chavez Ravine
Place with address 959 E. Stadium Way, the Property is zoned R4-1-O and is designated as a Transit Oriented Community (TOC)Tier 3 site.
The Property is located one-half mile from iconic Dodger Stadium,
home of Major League Baseball’s Los Angeles Dodgers. The
Downtown Los Angles central business, civic, arts and entertainment
districts are approximately a five-minute drive from the Property.
Metro Gold Line’s Chinatown stop is approximately one-half mile
from the Property. In addition to the nearby Downtown Los Angeles
CBD, key employment centers in Pasadena, Glendale, Burbank,
and Hollywood are within convenient driving distance or in some
cases commuter rail service from the Property.
Abundant restaurant, retail, and entertainment venues are
proximate to the Property, particularly in Downtown Los Angeles
and in the trendy, revitalizing Echo Park, Silver Lake, and Highland
Park neighborhoods. These locales offer destination restaurants
and bars; live theater, music and sporting venues; and cinemas.
Local area parks include the Los Angeles State Historic Park
(Chinatown), Grand Park, Vista Hermosa Park, Echo Park Lake, and
Griffith Park.
Greater Echo Park Elysian neighborhood, where the Property is
located, boasts a “Very Walkable” WalkScore of 82 out of 100.
With unmet area housing demand and robust Los Angeles
multifamily investment fundamentals, 959 E. Stadium Way is well positioned to deliver units in an excellent location at an opportune time.
Studio Size Rent Rent PSFComp #1 Blossom Plaza 436 $2,010 $4.61Comp #2 Brownstone Lofts 448 $1,789 $3.99Comp #3 Da Vinci 478 $1,987 $4.16Comp #4 EastView 555 $2,405 $4.33Comp #5 The Elysian 523 $2,923 $5.59Comp #6 Jia 571 $1,920 $3.36Comp #7 LA Plaza Village 473 $2,141 $4.53Comp #8 Orsini 479 $1,776 $3.71
One Bedroom Size Rent Rent PSFComp #1 Blossom Plaza 708 $2,460 $3.47Comp #2 Brownstone Lofts 712 $2,659 $3.73Comp #3 Da Vinci 746 $2,191 $2.94Comp #4 EastView 704 $2,378 $3.38Comp #5 The Elysian 734 $3,261 $4.44Comp #6 Jia 700 $2,258 $3.23Comp #7 LA Plaza Village 699 $2,773 $3.97Comp #8 Orsini 736 $2,302 $3.13
Two Bedroom Size Rent Rent PSFComp #1 Blossom Plaza 1,081 $3,008 $2.78Comp #2 Brownstone Lofts 1,064 $2,993 $2.81Comp #3 Da Vinci 1,016 $3,141 $3.09Comp #4 EastView 1,121 $3,517 $3.14Comp #5 The Elysian 892 $3,668 $4.11Comp #6 Jia 1,141 $3,187 $2.79Comp #7 LA Plaza Village 1,128 $4,046 $3.59Comp #8 Orsini 1,137 $2,873 $2.53
You are solely responsible for independently verifying the information in this Memorandum. Any reliance on it is solely at your own risk.
14www.959EastStadiumWay.com
237 Units
900 North Broadway
Los Angeles, CA 90012
(213) 625-7900
Completed Date
October, 2016
Improvements Rating A-
Location Rating C+
Occupancy 97.0%
Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, 1 Swimming Pool, Rental Office - Stand AloneParking - Total Parking - 274 Spaces, Covered Parking Is Available For An Additional $0 Per Month, Parking Type - SubterraneanFunctional Characteristics - Private Balcony/Patio, Construction Type - FrameOther Factor - Major Street Exposure - Broadway and College StreetApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens
Blossom Plaza
Unit Type % of Unit Size (SqFt) Market RentUnit Description Total Count Unit Total Total SqFt
Studio 5.49% 13 407 5,291 $2,050 $5.04
Studio 6.33% 15 436 6,540 $2,010 $4.61
One Bedroom/Alcove 4.22% 10 600 6,000 $2,064 $3.44
One Bedroom 7.17% 17 585 9,945 $2,074 $3.55
One Bedroom 5.06% 12 595 7,140 $2,278 $3.83
One Bedroom 7.59% 18 694 12,492 $2,374 $3.42
One Bedroom 9.70% 23 708 16,284 $2,460 $3.47
One Bedroom 6.33% 15 805 12,075 $2,580 $3.20
One Bedroom/Den 3.38% 8 868 6,944 $2,671 $3.08
Two Bedroom/One Bath 4.22% 10 878 8,780 $2,854 $3.25
Two Bedroom/Two Bath 6.75% 16 811 12,976 $2,634 $3.25
Two Bedroom/Two Bath 5.06% 12 944 11,328 $2,952 $3.13
Two Bedroom/Two Bath 11.81% 28 1,005 28,140 $2,822 $2.81
Two Bedroom/Two Bath 5.91% 14 1,026 14,364 $2,915 $2.84
Two Bedroom/Two Bath 7.59% 18 1,069 19,242 $2,943 $2.75
Two Bedroom/Two Bath 3.38% 8 1,081 8,648 $3,008 $2.78
Total/Average 100% 237 786 186,189 $2,541 $3.24
Page 1 of 10
Source: Occupancy data derived from USPS records
1 BLOSSOM PLAZA237 Units
900 North Broadway
Los Angeles, CA 90012
(213) 625-7900
Completed Date
October, 2016
Improvements Rating A-
Location Rating C+
Occupancy 97.0%
Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, 1 Swimming Pool, Rental Office - Stand AloneParking - Total Parking - 274 Spaces, Covered Parking Is Available For An Additional $0 Per Month, Parking Type - SubterraneanFunctional Characteristics - Private Balcony/Patio, Construction Type - FrameOther Factor - Major Street Exposure - Broadway and College StreetApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens
Blossom Plaza
Unit Type % of Unit Size (SqFt) Market RentUnit Description Total Count Unit Total Total SqFt
Studio 5.49% 13 407 5,291 $2,050 $5.04
Studio 6.33% 15 436 6,540 $2,010 $4.61
One Bedroom/Alcove 4.22% 10 600 6,000 $2,064 $3.44
One Bedroom 7.17% 17 585 9,945 $2,074 $3.55
One Bedroom 5.06% 12 595 7,140 $2,278 $3.83
One Bedroom 7.59% 18 694 12,492 $2,374 $3.42
One Bedroom 9.70% 23 708 16,284 $2,460 $3.47
One Bedroom 6.33% 15 805 12,075 $2,580 $3.20
One Bedroom/Den 3.38% 8 868 6,944 $2,671 $3.08
Two Bedroom/One Bath 4.22% 10 878 8,780 $2,854 $3.25
Two Bedroom/Two Bath 6.75% 16 811 12,976 $2,634 $3.25
Two Bedroom/Two Bath 5.06% 12 944 11,328 $2,952 $3.13
Two Bedroom/Two Bath 11.81% 28 1,005 28,140 $2,822 $2.81
Two Bedroom/Two Bath 5.91% 14 1,026 14,364 $2,915 $2.84
Two Bedroom/Two Bath 7.59% 18 1,069 19,242 $2,943 $2.75
Two Bedroom/Two Bath 3.38% 8 1,081 8,648 $3,008 $2.78
Total/Average 100% 237 786 186,189 $2,541 $3.24
Page 1 of 10
Source: Occupancy data derived from USPS records
900 NORTH BROADWAY LOS ANGELES, CA 90012
YEAR BUILT: 2016
UNITS: 237
OCCUPANCY: 97%
AMENITIES:
Controlled Access
Fitness Center
Business Center
Clubhouse
1 Swimming Pool
Rental Office-Stand Alone
Internet Access
Above Standard Ceiling Height
Microwave Ovens
Private Balcony/Patio
RENT COMPARABLES (CONTINUED)
You are solely responsible for independently verifying the information in this Memorandum. Any reliance on it is solely at your own risk.
15www.959EastStadiumWay.com
55 Units
1168 Bellevue Avenue
Los Angeles, CA 90012
(323) 828-4320
Completed Date
January, 2013
Improvements Rating C+
Location Rating B-
Occupancy 98.2%
Prior Names
Bellevue LoftsBrookshire Manor
Common Area Amenities - Controlled Access, One Laundry Facilities, Fitness Center, Business Center, Rental Office - Stand AloneParking - Total Parking - 65 Spaces, Covered Parking Is Available For An Additional $0 Per Month, Parking Type - Multi-Level StructureFunctional Characteristics - Private Balcony/Patio, Construction Type - MasonryOther Factor - Major Street Exposure - Interstate 101Apartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens
Brownstone Lofts
Unit Type % of Unit Size (SqFt) Market RentUnit Description Total Count Unit Total Total SqFt
Studio 3.64% 2 448 896 $1,789 $3.99
One Bedroom 3.64% 2 594 1,188 $2,236 $3.76
One Bedroom 36.36% 20 638 12,760 $2,486 $3.90
One Bedroom 12.73% 7 712 4,984 $2,659 $3.73
One Bedroom 29.09% 16 789 12,624 $2,748 $3.48
Two Bedroom/One Bath 1.82% 1 915 915 $3,007 $3.29
Two Bedroom/Two Bath 1.82% 1 927 927 $3,034 $3.27
Two Bedroom/Two Bath 7.27% 4 1,064 4,256 $2,993 $2.81
Two Bedroom/Two Bath 3.64% 2 1,500 3,000 $2,707 $1.80
Total/Average 100% 55 755 41,550 $2,614 $3.46
Page 2 of 10
Source: Occupancy data derived from USPS records
1168 BELLEVUE AVENUE LOS ANGELES, CA 90012
YEAR BUILT: 2013
UNITS: 55
OCCUPANCY: 98%
55 Units
1168 Bellevue Avenue
Los Angeles, CA 90012
(323) 828-4320
Completed Date
January, 2013
Improvements Rating C+
Location Rating B-
Occupancy 98.2%
Prior Names
Bellevue LoftsBrookshire Manor
Common Area Amenities - Controlled Access, One Laundry Facilities, Fitness Center, Business Center, Rental Office - Stand AloneParking - Total Parking - 65 Spaces, Covered Parking Is Available For An Additional $0 Per Month, Parking Type - Multi-Level StructureFunctional Characteristics - Private Balcony/Patio, Construction Type - MasonryOther Factor - Major Street Exposure - Interstate 101Apartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens
Brownstone Lofts
Unit Type % of Unit Size (SqFt) Market RentUnit Description Total Count Unit Total Total SqFt
Studio 3.64% 2 448 896 $1,789 $3.99
One Bedroom 3.64% 2 594 1,188 $2,236 $3.76
One Bedroom 36.36% 20 638 12,760 $2,486 $3.90
One Bedroom 12.73% 7 712 4,984 $2,659 $3.73
One Bedroom 29.09% 16 789 12,624 $2,748 $3.48
Two Bedroom/One Bath 1.82% 1 915 915 $3,007 $3.29
Two Bedroom/Two Bath 1.82% 1 927 927 $3,034 $3.27
Two Bedroom/Two Bath 7.27% 4 1,064 4,256 $2,993 $2.81
Two Bedroom/Two Bath 3.64% 2 1,500 3,000 $2,707 $1.80
Total/Average 100% 55 755 41,550 $2,614 $3.46
Page 2 of 10
Source: Occupancy data derived from USPS records
AMENITIES:Controlled AccessOne Laundry FacilitiesFitness CenterBusiness CenterRental Office - Stand AloneInternet AccessAbove Standard Ceiling HeightMicrowave OvensPrivate Balcony/Patio
RENT COMPARABLES (CONTINUED)
2 BROWNSTONE LOFTS
You are solely responsible for independently verifying the information in this Memorandum. Any reliance on it is solely at your own risk.
16www.959EastStadiumWay.com
526 Units
909 West Temple Street
Los Angeles, CA 90012
(213) 232-4600
Completed Date
September, 2016
Improvements Rating A
Location Rating B
Occupancy 92.8%
Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, Vollyball Court, 3 Swimming Pools, 2 Spas, Rental Office - Stand AloneParking - Total Parking - 1000 Spaces, Covered Parking Is Available For An Additional $0 Per Month, Parking Type - SubterraneanFunctional Characteristics - Private Balcony/Patio, Construction Type - CombinationOther Factor - Major Street Exposure - Temple Street, Harbor Fwy and Transit Way/State Route 110 and Hollywood Fwy/US Route 101, View - Downtown Los AngelesApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens
Da Vinci
Unit Type % of Unit Size (SqFt) Market RentUnit Description Total Count Unit Total Total SqFt
Studio 4.94% 26 478 12,428 $1,987 $4.16
Studio 7.22% 38 623 23,674 $2,013 $3.23
One Bedroom 10.46% 55 644 35,420 $2,092 $3.25
One Bedroom 8.75% 46 646 29,716 $2,127 $3.29
One Bedroom 12.55% 66 746 49,236 $2,191 $2.94
One Bedroom 7.98% 42 795 33,390 $2,221 $2.79
One Bedroom 10.27% 54 912 49,248 $2,440 $2.68
Two Bedroom/One and Three Quarter Bath 4.94% 26 979 25,454 $2,743 $2.80
Two Bedroom/Two Bath 6.08% 32 858 27,456 $2,594 $3.02
Two Bedroom/Two Bath 4.56% 24 940 22,560 $2,584 $2.75
Two Bedroom/Two Bath 5.32% 28 984 27,552 $2,635 $2.68
Two Bedroom/Two Bath 5.70% 30 1,016 30,480 $3,141 $3.09
Two Bedroom/Townhouse/Loft/Two Bath 2.66% 14 1,246 17,444 $3,639 $2.92
Three Bedroom/Three Bath 8.56% 45 1,267 57,015 $3,892 $3.07
Total/Average 100% 526 839 441,073 $2,511 $3.00
Page 3 of 10
Source: Occupancy data derived from USPS records
909 WEST TEMPLE STREETLOS ANGELES, CA 90012
YEAR BUILT: 2016
UNITS: 526
OCCUPANCY: 93%
AMENITIES:
Controlled Access
Fitness Center
Business Center
Clubhouse
Volleyball Court
3 Swimming Pools
2 Spas
Rental Office - Stand Alone
Private Balcony/Patio
Internet Access
Above Standard Ceiling Height
Microwave Ovens
526 Units
909 West Temple Street
Los Angeles, CA 90012
(213) 232-4600
Completed Date
September, 2016
Improvements Rating A
Location Rating B
Occupancy 92.8%
Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, Vollyball Court, 3 Swimming Pools, 2 Spas, Rental Office - Stand AloneParking - Total Parking - 1000 Spaces, Covered Parking Is Available For An Additional $0 Per Month, Parking Type - SubterraneanFunctional Characteristics - Private Balcony/Patio, Construction Type - CombinationOther Factor - Major Street Exposure - Temple Street, Harbor Fwy and Transit Way/State Route 110 and Hollywood Fwy/US Route 101, View - Downtown Los AngelesApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens
Da Vinci
Unit Type % of Unit Size (SqFt) Market RentUnit Description Total Count Unit Total Total SqFt
Studio 4.94% 26 478 12,428 $1,987 $4.16
Studio 7.22% 38 623 23,674 $2,013 $3.23
One Bedroom 10.46% 55 644 35,420 $2,092 $3.25
One Bedroom 8.75% 46 646 29,716 $2,127 $3.29
One Bedroom 12.55% 66 746 49,236 $2,191 $2.94
One Bedroom 7.98% 42 795 33,390 $2,221 $2.79
One Bedroom 10.27% 54 912 49,248 $2,440 $2.68
Two Bedroom/One and Three Quarter Bath 4.94% 26 979 25,454 $2,743 $2.80
Two Bedroom/Two Bath 6.08% 32 858 27,456 $2,594 $3.02
Two Bedroom/Two Bath 4.56% 24 940 22,560 $2,584 $2.75
Two Bedroom/Two Bath 5.32% 28 984 27,552 $2,635 $2.68
Two Bedroom/Two Bath 5.70% 30 1,016 30,480 $3,141 $3.09
Two Bedroom/Townhouse/Loft/Two Bath 2.66% 14 1,246 17,444 $3,639 $2.92
Three Bedroom/Three Bath 8.56% 45 1,267 57,015 $3,892 $3.07
Total/Average 100% 526 839 441,073 $2,511 $3.00
Page 3 of 10
Source: Occupancy data derived from USPS records
RENT COMPARABLES (CONTINUED)
3 DA VINCI
You are solely responsible for independently verifying the information in this Memorandum. Any reliance on it is solely at your own risk.
17www.959EastStadiumWay.com
121 Units
327 North Boylston Street
Los Angeles, CA 90012
(213) 629-7443
Completed Date
August, 2018
Improvements Rating A-
Location Rating C+
Occupancy 81.0%
Prior Names
Boylston Arms
Common Area Amenities - Controlled Access, Laundry Facilities, Fitness Center, 1 Swimming Pool, Rental Office - Stand AloneParking - Total Parking - 145 Spaces, Covered Parking Is Available For An Additional $0 Per Month, Parking Type - SubterraneanFunctional Characteristics - Private Balcony/Patio, Construction Type - FrameOther Factor - View - Downtown Los AngelesApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens
EastView
Unit Type % of Unit Size (SqFt) Market RentUnit Description Total Count Unit Total Total SqFt
Studio 555 $2,405 $4.33
Studio 609 $2,672 $4.39
Loft/Studio 710
Loft/Studio 770
Loft/Studio 832 $2,915 $3.50
Loft/Studio 892 $2,933 $3.29
Loft/Studio 901 $2,760 $3.06
Loft/Studio 912
One Bedroom 647 $2,443 $3.78
One Bedroom 704 $2,378 $3.38
One Bedroom 706 $2,565 $3.63
One Bedroom 713 $2,706 $3.80
Two Bedroom/Two Bath 1,088 $3,003 $2.76
Two Bedroom/Two Bath 1,108 $3,351 $3.02
Two Bedroom/Two Bath 1,121 $3,517 $3.14
Two Bedroom/Townhouse/Loft/Two Bath 1,267 $4,327 $3.42
Total/Average 100% 121
Page 4 of 10
Source: Occupancy data derived from USPS records
RENT COMPARABLES (CONTINUED)
4 EASTVIEW
EASTVIEW
327 NORTH BOYLSTON STREETLOS ANGELES, CA 90012
YEAR BUILT: 2018
UNITS: 121
OCCUPANCY: 81%
121 Units
327 North Boylston Street
Los Angeles, CA 90012
(213) 629-7443
Completed Date
August, 2018
Improvements Rating A-
Location Rating C+
Occupancy 81.0%
Prior Names
Boylston Arms
Common Area Amenities - Controlled Access, Laundry Facilities, Fitness Center, 1 Swimming Pool, Rental Office - Stand AloneParking - Total Parking - 145 Spaces, Covered Parking Is Available For An Additional $0 Per Month, Parking Type - SubterraneanFunctional Characteristics - Private Balcony/Patio, Construction Type - FrameOther Factor - View - Downtown Los AngelesApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens
EastView
Unit Type % of Unit Size (SqFt) Market RentUnit Description Total Count Unit Total Total SqFt
Studio 555 $2,405 $4.33
Studio 609 $2,672 $4.39
Loft/Studio 710
Loft/Studio 770
Loft/Studio 832 $2,915 $3.50
Loft/Studio 892 $2,933 $3.29
Loft/Studio 901 $2,760 $3.06
Loft/Studio 912
One Bedroom 647 $2,443 $3.78
One Bedroom 704 $2,378 $3.38
One Bedroom 706 $2,565 $3.63
One Bedroom 713 $2,706 $3.80
Two Bedroom/Two Bath 1,088 $3,003 $2.76
Two Bedroom/Two Bath 1,108 $3,351 $3.02
Two Bedroom/Two Bath 1,121 $3,517 $3.14
Two Bedroom/Townhouse/Loft/Two Bath 1,267 $4,327 $3.42
Total/Average 100% 121
Page 4 of 10
Source: Occupancy data derived from USPS records
AMENITIES:
Controlled Access
Laundry Facilities
Fitness Center
1 Swimming Pool
Rental Office - Stand Alone
Private Balcony/Patio
Internet Access
Above Standard Ceiling Height
Microwave Ovens
You are solely responsible for independently verifying the information in this Memorandum. Any reliance on it is solely at your own risk.
18www.959EastStadiumWay.com
96 Units
1115 West Sunset Blvd
Los Angeles, CA 90012
(213) 284-8816
Completed Date
August, 2014
Improvements Rating A
Location Rating B-
Occupancy 97.9%
Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, Rental Office - Stand AloneParking - Total Parking - 138 Spaces, Covered Parking Is Available For An Additional $150 Per Month, Parking Type - Above Ground and SubterraneanFunctional Characteristics - Private Balcony/Patio, Construction Type - Steel FrameOther Factor - Major Street Exposure - Sunset Blvd, View - Downtown Los AngelesApartment Interior Amenities - Internet Access, Optional Monitored Security, Above Standard Ceiling Height, Microwave Ovens
Elysian, The
Page 5 of 10
Source: Occupancy data derived from USPS records
Unit Type % of Unit Size (SqFt) Market RentUnit Description Total Count Unit Total Total SqFt
Studio 6.25% 6 523 3,138 $2,929 $5.60
Studio 1.04% 1 665 665 $3,098 $4.66
Studio 5.21% 5 752 3,760 $3,185 $4.24
Studio 5.21% 5 760 3,800 $2,537 $3.34
Studio 1.04% 1 774 774 $2,629 $3.40
Studio 1.04% 1 796 796 $2,883 $3.62
Studio 5.21% 5 856 4,280 $4,631 $5.41
Studio 1.04% 1 975 975 $3,089 $3.17
One Bedroom 6.25% 6 734 4,404 $3,261 $4.44
One Bedroom 1.04% 1 889 889 $3,348 $3.77
One Bedroom 17.71% 17 892 15,164 $2,723 $3.05
One Bedroom 5.21% 5 897 4,485 $3,167 $3.53
One Bedroom 11.46% 11 905 9,955 $3,579 $3.95
One Bedroom 1.04% 1 934 934 $4,327 $4.63
One Bedroom 1.04% 1 1,123 1,123 $4,696 $4.18
Two Bedroom/Two Bath 13.54% 13 892 11,596 $3,668 $4.11
Three Bedroom/Three Bath 1.04% 1 1,361 1,361 $6,723 $4.94
Three Bedroom/Three Bath 1.04% 1 1,445 1,445 $5,636 $3.90
Three Bedroom/Three Bath 1.04% 1 1,643 1,643 $5,688 $3.46
AMENITIES:Controlled AccessFitness CenterBusiness CenterClubhouseRental Office - Stand Alone
Private Balcony/PatioInternet AccessOptional Monitored SecurityAbove Standard Ceiling HeightMicrowave Ovens
RENT COMPARABLES (CONTINUED)
5 THE ELYSIAN
You are solely responsible for independently verifying the information in this Memorandum. Any reliance on it is solely at your own risk.
19www.959EastStadiumWay.com
280 Units
639 North Broadway
Los Angeles, CA 90012
(213) 250-6128
Completed Date
March, 2014
Improvements Rating A-
Location Rating B-
Occupancy 97.1%
Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, 1 Swimming Pool, 1 Spa, Rental Office - Stand AloneParking - Total Parking - 588 Spaces, Parking Type - SubterraneanFunctional Characteristics - Private Balcony/Patio Available In Select Units, Construction Type - CombinationOther Factor - Major Street Exposure - Broadway, View - Downtown Los AngelesApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens
Jia
Unit Type % of Unit Size (SqFt) Market RentUnit Description Total Count Unit Total Total SqFt
Studio 10.71% 30 571 17,130 $1,920 $3.36
Studio 8.93% 25 645 16,125 $2,234 $3.46
Studio 1.79% 5 652 3,260 $2,057 $3.15
Studio 1.79% 5 663 3,315 $2,053 $3.10
One Bedroom 5.36% 15 686 10,290 $2,154 $3.14
One Bedroom 7.50% 21 700 14,700 $2,258 $3.23
One Bedroom 7.14% 20 712 14,240 $2,191 $3.08
One Bedroom 5.36% 15 725 10,875 $2,246 $3.10
One Bedroom 19.29% 54 766 41,364 $2,394 $3.13
One Bedroom 12.50% 35 835 29,225 $2,296 $2.75
Two Bedroom/One Bath 4.64% 13 1,113 14,469 $2,817 $2.53
Two Bedroom/One Bath 11.79% 33 1,141 37,653 $3,187 $2.79
Two Bedroom/One Bath 1.43% 4 1,346 5,384 $3,256 $2.42
Two Bedroom/One Bath 1.79% 5 1,367 6,835 $3,373 $2.47
Total/Average 100% 280 803 224,865 $2,401 $2.99
Page 8 of 10
Source: Occupancy data derived from USPS records
280 Units
639 North Broadway
Los Angeles, CA 90012
(213) 250-6128
Completed Date
March, 2014
Improvements Rating A-
Location Rating B-
Occupancy 97.1%
Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, 1 Swimming Pool, 1 Spa, Rental Office - Stand AloneParking - Total Parking - 588 Spaces, Parking Type - SubterraneanFunctional Characteristics - Private Balcony/Patio Available In Select Units, Construction Type - CombinationOther Factor - Major Street Exposure - Broadway, View - Downtown Los AngelesApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens
Jia
Unit Type % of Unit Size (SqFt) Market RentUnit Description Total Count Unit Total Total SqFt
Studio 10.71% 30 571 17,130 $1,920 $3.36
Studio 8.93% 25 645 16,125 $2,234 $3.46
Studio 1.79% 5 652 3,260 $2,057 $3.15
Studio 1.79% 5 663 3,315 $2,053 $3.10
One Bedroom 5.36% 15 686 10,290 $2,154 $3.14
One Bedroom 7.50% 21 700 14,700 $2,258 $3.23
One Bedroom 7.14% 20 712 14,240 $2,191 $3.08
One Bedroom 5.36% 15 725 10,875 $2,246 $3.10
One Bedroom 19.29% 54 766 41,364 $2,394 $3.13
One Bedroom 12.50% 35 835 29,225 $2,296 $2.75
Two Bedroom/One Bath 4.64% 13 1,113 14,469 $2,817 $2.53
Two Bedroom/One Bath 11.79% 33 1,141 37,653 $3,187 $2.79
Two Bedroom/One Bath 1.43% 4 1,346 5,384 $3,256 $2.42
Two Bedroom/One Bath 1.79% 5 1,367 6,835 $3,373 $2.47
Total/Average 100% 280 803 224,865 $2,401 $2.99
Page 8 of 10
Source: Occupancy data derived from USPS records
639 NORTH BROADWAYLOS ANGELES, CA 90012
YEAR BUILT: 2014
UNITS: 280
OCCUPANCY: 97%
AMENITIES:
Controlled Access
Fitness Center
Business Center, Clubhouse
1 Swimming Pool
1 Spa
Rental Office - Stand Alone
Private Balcony/Patio
Internet Access
Above Standard Ceiling Height
Microwave Ovens
RENT COMPARABLES (CONTINUED)
6 JIA
You are solely responsible for independently verifying the information in this Memorandum. Any reliance on it is solely at your own risk.
20www.959EastStadiumWay.com
355 Units
555 North Spring Street
Los Angeles, CA 90012
(213) 985-7982
Completed Date
August, 2019
Improvements Rating A (Prelim.)
Location Rating B
Prior Names
LA Plaza Cultura Village
Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, 1 Swimming Pool, 1 Spa, Rental Office - Stand AloneParking - Total Parking - 720 Spaces, Covered Parking Is Available For An Additional $150 Per Month, Parking Type - Above Ground and SubterraneanFunctional Characteristics - Private Balcony/PatioOther Factor - Major Street Exposure - Broadway, Cesar Estrada Chavez Avenue, Hill Street and Spring StreetApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens
LA Plaza Village (Under Construction)
Unit Type % of Unit Size (SqFt) Market RentUnit Description Total Count Unit Total Total SqFt
Studio 0.85% 3 429 1,287 $1,938 $4.52
Studio 7.89% 28 473 13,244 $2,141 $4.53
Studio 3.10% 11 473 5,203
Studio 20.00% 71 495 35,145 $2,182 $4.41
Studio 7.32% 26 495 12,870
Studio 3.10% 11 501 5,511 $2,139 $4.27
Studio 0.85% 3 693 2,079 $2,382 $3.44
One Bedroom 2.82% 10 649 6,490 $2,687 $4.14
One Bedroom 1.41% 5 649 3,245
One Bedroom 1.97% 7 666 4,662 $2,787 $4.18
One Bedroom 0.56% 2 699 1,398 $2,773 $3.97
One Bedroom 0.28% 1 737 737 $2,858 $3.88
One Bedroom 0.28% 1 737 737
One Bedroom 1.13% 4 748 2,992 $2,894 $3.87
One Bedroom 5.35% 19 754 14,326 $2,875 $3.81
One Bedroom 1.41% 5 754 3,770
One Bedroom 10.70% 38 770 29,260 $2,971 $3.86
One Bedroom 2.25% 8 770 6,160
Page 9 of 10
Source: Occupancy data derived from USPS recordsOne Bedroom 0.56% 2 775 1,550
One Bedroom 0.56% 2 792 1,584 $2,882 $3.64
One Bedroom 1.13% 4 809 3,236 $2,951 $3.65
One Bedroom 0.85% 3 809 2,427
One Bedroom 0.28% 1 814 814 $2,939 $3.61
One Bedroom 0.56% 2 831 1,662 $2,884 $3.47
One Bedroom 0.28% 1 935 935 $3,093 $3.31
One Bedroom/Townhouse/One and One Half Bath 1.41% 5 1,122 5,610 $3,382 $3.01
Two Bedroom/One and Three Quarter Bath 13.80% 49 968 47,432 $3,877 $4.01
Two Bedroom/One and Three Quarter Bath 1.97% 7 968 6,776
Two Bedroom/One and Three Quarter Bath 0.56% 2 1,023 2,046 $3,775 $3.69
Two Bedroom/One and Three Quarter Bath 2.82% 10 1,078 10,780 $3,905 $3.62
Two Bedroom/One and Three Quarter Bath 0.56% 2 1,078 2,156
Two Bedroom/One and Three Quarter Bath 1.41% 5 1,128 5,640 $4,046 $3.59
Two Bedroom/One and Three Quarter Bath 0.28% 1 1,210 1,210 $3,260 $2.69
Three Bedroom/One and Three Quarter Bath 1.13% 4 1,254 5,016 $4,975 $3.97
Three Bedroom/One and Three Quarter Bath 0.28% 1 1,254 1,254
Three Bedroom/One and Three Quarter Bath 0.28% 1 1,595 1,595 $5,108 $3.20
Total/Average 100% 355 707 250,839 $2,875 $3.99
Page 10 of 10
Source: Occupancy data derived from USPS records
555 NORTH SPRING STREETLOS ANGELES, CA 90012
YEAR BUILT: 2019
UNITS: 355
UNDER CONSTRUCTION
AMENITIES:
Controlled Access
Fitness Center
Business Center
Clubhouse
1 Swimming Pool
1 Spa
Rental Office - Stand Alone
Private Balcony/Patio
Internet Access
Above Standard Ceiling Height
Microwave Ovens
RENT COMPARABLES (CONTINUED)
7 LA PLAZA VILLAGE
You are solely responsible for independently verifying the information in this Memorandum. Any reliance on it is solely at your own risk.
You are solely responsible for independently verifying the information in this Memorandum. Any reliance on it is solely at your own risk.
22www.959EastStadiumWay.com
MULTIFAMILY SALE COMPARABLES
Property Address City Zip Units Sale Price CAP GRM $/Unit $/SF SF Built Sale Date801 S Olive St (Part of Portfolio) Los Angeles 90014 363 $280,000,000 - - $771,350 $875 320,000 2017 05/19/18801 S Hope St Los Angeles 90017 290 $220,000,000 - - $758,621 $733 300,000 2014 12/01/18732 S Spring St (Part of Multi-Property Sale) Los Angeles 90014 300 $203,500,000 - - $678,333 $727 280,000 2018 07/02/19755 S Spring St (Part of Multi-Property Sale) Los Angeles 90014 275 $199,625,000 - - $725,909 $705 283,351 2018 07/02/19770 S Grand Ave (Part of Portfolio) Los Angeles 90017 700 $374,000,000 - - $534,286 $648 577,000 2015 05/19/18138 N Beaudry Ave Los Angeles 90012 210 $88,275,000 4.00% - $420,357 $508 173,686 2008 06/20/181515 Wilshire Blvd Los Angeles 90017 218 $83,750,000 - - $384,174 $508 165,000 2016 07/11/171111 Wilshire Blvd Los Angeles 90017 210 $91,250,000 - - $434,524 $481 189,826 2013 06/27/19222 S Main St Los Angeles 90012 271 $105,180,000 - - $388,118 $470 223,783 2017 07/11/191801-1825 Morton Ave Los Angeles 90026 66 $25,500,000 3.50% - $386,364 $468 54,433 1972 11/30/18408 S Spring St Los Angeles 90013 56 $30,100,000 2.50% - $537,500 $391 77,030 2004 08/28/18501 S Los Angeles St Los Angeles 90013 144 $21,265,000 - - $147,674 $322 66,030 1911 08/09/18236 S Bonnie Brae St Los Angeles 90057 65 $15,600,000 - - $240,000 $322 48,458 1989 10/26/17121 E 6th St Los Angeles 90014 132 $68,747,000 - - $520,811 $322 213,560 1911 03/30/18625 N Bunker Hill Ave Los Angeles 90012 65 $12,029,000 - - $185,062 $300 40,041 1987 03/02/18121 E 5th St Los Angeles 90013 150 $15,250,000 - - $101,667 $250 60,979 1905 04/25/18307-317 S Broadway (Part of Multi-Property Sale) Los Angeles 90013 121 $20,202,818 - - $166,965 $224 90,187 1918 11/01/17
Criteria: Properties located in 2-mile radius from Subject Property, 50 units or more, sold from July 2017 to July 2019Source: CoStar, sorted by price per square foot
Criteria: Properties located in 2-mile radius from Subject Property, 50 units or more, sold from July 2017 to July 2019
Source: CoStar, sorted by price per square foot
You are solely responsible for independently verifying the information in this Memorandum. Any reliance on it is solely at your own risk.
23www.959EastStadiumWay.com
(Continued on the Next Page)
959 E STADIUM WAYSOLD LAND PROPERTIES
Criteria: Sites located in 2-mile radius from Subject Property, $150 PSF+, sold between Jan 2017 and July 2019Source: CoStar, Sorted by Price Per Square Foot
Address City Zip Price SF Price/SF Zoning Sale Date126 Astronaut E S Onizuka St Los Angeles 90012 $16,162,500 14,265 $1,133 LAC2 10/1/181614 Wilshire Blvd Los Angeles 90017 $5,925,000 6,098 $972 C4 6/1/18361 S Spring St Los Angeles 90013 $13,500,000 19,998 $675 LAC4 1/18/18431 E 7th St Los Angeles 90014 $6,600,000 10,911 $605 R5 3/14/191110-1136 Ingraham St (Part of Multi-Property Sale) Los Angeles 90017 $29,842,617 58,043 $514 CW 6/7/19433 S Main St Los Angeles 90013 $9,640,000 19,018 $507 LAC4 12/18/17675 N Spring St Los Angeles 90012 $4,780,000 9,831 $486 LAC2 9/6/17436-446 S Hewitt St Los Angeles 90013 $7,400,000 15,599 $474 LAM3 8/31/18606 E 1st St Los Angeles 90012 $10,650,000 23,248 $458 LACM 8/20/181140 Ingraham St (Part of Multi-Property Sale) Los Angeles 90017 $3,057,383 7,297 $419 LACW 6/7/19166 S Alvarado St Los Angeles 90057 $7,800,000 18,748 $416 C2-2 11/9/18495 Hartford Ave Los Angeles 90017 $18,000,000 46,147 $390 R5(CW)U/6 6/14/191218-1232 Ingraham St Los Angeles 90017 $8,450,000 22,002 $384 LACW 4/6/18701-717 Maple Ave Los Angeles 90014 $17,314,500 50,943 $340 M2 7/5/181929 W Sunset Blvd (Part of Multi-Property Sale) Los Angeles 90026 $2,344,272 6,998 $335 LAC2 7/3/19734-736 South Hill St Los Angeles 90014 $6,500,000 19,567 $332 C5 12/15/17212 E 7th St Los Angeles 90014 $6,935,500 21,527 $322 LAM2 7/5/18732 S Main St Los Angeles 90014 $12,000,000 38,002 $316 LAC5 12/22/171820-1870 Beverly Blvd (Part of Multi-Property Sale) Los Angeles 90057 $10,502,218 33,471 $314 R4, Los Angeles 10/16/18942 N Broadway Los Angeles 90012 $8,000,000 27,356 $292 LAC2 10/23/17
Criteria: Sites located in 2-mile radius from Subject Property, $150 PSF+, sold between Jan 2017 and July 2019
Source: CoStar, Sorted by Price Per Square Foot
LAND SALE COMPARABLES (Continued on next page)
You are solely responsible for independently verifying the information in this Memorandum. Any reliance on it is solely at your own risk.
24www.959EastStadiumWay.com
Criteria: Sites located in 2-mile radius from Subject Property, $150 PSF+, sold between Jan 2017 and July 2019
Source: CoStar, Sorted by Price Per Square Foot
LAND SALE COMPARABLES (Continued from previous page)
154 Glendale Blvd Los Angeles 90026 $1,250,000 4,599 $272 LACW 10/2/182007 Reservoir St Los Angeles 90026 $5,000,000 19,061 $262 LAR4 7/3/19405 N Alvarado St Los Angeles 90026 $4,850,000 18,500 $262 LAC2 6/26/18372 Loma Dr (Part of Multi-Property Sale) Los Angeles 90017 $2,262,765 9,385 $241 LAR4 11/9/17700 N Spring St Los Angeles 90012 $5,150,000 21,780 $236 LA C2-2 6/14/19414 S Crocker St Los Angeles 90013 $8,450,000 35,767 $236 M2 5/17/19N Alvarado St. & Kent St. Los Angeles 90026 $6,500,000 27,565 $236 C2 5/14/18200 Mesnager St Los Angeles 90012 $15,200,000 66,542 $228 M3-2 8/15/181435 W 3rd St Los Angeles 90017 $8,100,000 36,679 $221 LACW 6/8/18245 N Union Ave Los Angeles 90026 $3,000,000 14,350 $209 RD1.5 10/26/17706-712 N Alvarado St Los Angeles 90026 $2,400,000 11,656 $206 RD2 2/27/18114 S Bonnie Brae St (Part of Multi-Property Sale) Los Angeles 90057 $1,533,058 7,501 $204 R4-2, Los Angeles 10/16/18924 Yale St Los Angeles 90012 $5,880,500 29,639 $198 C-2 6/29/18823 Cleveland St Los Angeles 90012 $1,900,000 9,583 $198 LAR4 11/6/181301 Colton St Los Angeles 90026 $2,203,000 11,173 $197 LACW 4/10/181492 W Sunset Blvd Los Angeles 90026 $1,250,000 6,460 $193 LAC2 11/14/17250 S Burlington Ave Los Angeles 90057 $900,000 4,866 $185 LAR3 8/1/181346-1352 W Court St Los Angeles 90026 $3,025,000 16,880 $179 R4(CW)-75/3-0 4/24/19808 N Beaudry Los Angeles 90012 $1,251,000 7,000 $179 LAR3 11/7/18335-339 S Clarence St Los Angeles 90033 $2,820,000 15,899 $177 LA MR1 7/5/191417-1419 N Main St Los Angeles 90012 $2,380,000 13,504 $176 LAMR2 (Urban Innovation) 7/12/181101 N Main St Los Angeles 90012 $24,000,000 138,944 $173 LAC2 10/19/171817 Sichel St Los Angeles 90031 $1,500,000 9,052 $166 R3-1 Tier 1 6/4/192515-2517 W Sunset Blvd Los Angeles 90026 $2,200,000 13,321 $165 LAC2 7/9/181800 Beverly Blvd (Part of Multi-Property Sale) Los Angeles 90057 $5,024,724 31,127 $161 LAR4 10/16/181346 Sutherland St Los Angeles 90026 $1,020,000 6,765 $151 LARD1.5-1VL 6/25/18418-430 Firmin St Los Angeles 90026 $2,630,000 17,472 $151 LACW 2/2/18
Criteria: Sites located in 2-mile radius from Subject Property, $150 PSF+, sold between Jan 2017 and July 2019Source: CoStar, Sorted by Price Per Square Foot
Address City Zip Price SF Price/SF Zoning Sale Date126 Astronaut E S Onizuka St Los Angeles 90012 $16,162,500 14,265 $1,133 LAC2 10/1/181614 Wilshire Blvd Los Angeles 90017 $5,925,000 6,098 $972 C4 6/1/18361 S Spring St Los Angeles 90013 $13,500,000 19,998 $675 LAC4 1/18/18431 E 7th St Los Angeles 90014 $6,600,000 10,911 $605 R5 3/14/191110-1136 Ingraham St (Part of Multi-Property Sale) Los Angeles 90017 $29,842,617 58,043 $514 CW 6/7/19433 S Main St Los Angeles 90013 $9,640,000 19,018 $507 LAC4 12/18/17675 N Spring St Los Angeles 90012 $4,780,000 9,831 $486 LAC2 9/6/17436-446 S Hewitt St Los Angeles 90013 $7,400,000 15,599 $474 LAM3 8/31/18606 E 1st St Los Angeles 90012 $10,650,000 23,248 $458 LACM 8/20/181140 Ingraham St (Part of Multi-Property Sale) Los Angeles 90017 $3,057,383 7,297 $419 LACW 6/7/19166 S Alvarado St Los Angeles 90057 $7,800,000 18,748 $416 C2-2 11/9/18495 Hartford Ave Los Angeles 90017 $18,000,000 46,147 $390 R5(CW)U/6 6/14/191218-1232 Ingraham St Los Angeles 90017 $8,450,000 22,002 $384 LACW 4/6/18701-717 Maple Ave Los Angeles 90014 $17,314,500 50,943 $340 M2 7/5/181929 W Sunset Blvd (Part of Multi-Property Sale) Los Angeles 90026 $2,344,272 6,998 $335 LAC2 7/3/19734-736 South Hill St Los Angeles 90014 $6,500,000 19,567 $332 C5 12/15/17212 E 7th St Los Angeles 90014 $6,935,500 21,527 $322 LAM2 7/5/18732 S Main St Los Angeles 90014 $12,000,000 38,002 $316 LAC5 12/22/171820-1870 Beverly Blvd (Part of Multi-Property Sale) Los Angeles 90057 $10,502,218 33,471 $314 R4, Los Angeles 10/16/18942 N Broadway Los Angeles 90012 $8,000,000 27,356 $292 LAC2 10/23/17
You are solely responsible for independently verifying the information in this Memorandum. Any reliance on it is solely at your own risk.
25www.959EastStadiumWay.com
I I I . A r e a O v e r v i e w
Downtown Los Angeles is approximately five minutes away from
the Property. The area is bounded by the Los Angeles river to the
east, 101 Hollywood Freeway to the north, the 10 Santa Monica
Freeway on the south and just west of the 110 Harbor Freeway on
the west. Downtown Los Angeles features many of the city’s major
arts institutions and sports facilities, a variety of skyscrapers and
associated large multinational corporations, an array of public art,
unique shopping opportunities and the hub of the city’s freeway
and public transportation networks.
Downtown Los Angeles features one of the largest skylines in the
United States, and its development has continued in recent years.
The skyline will continue to see rapid growth with a number of high
profile Asia-based developers building landmark projects.
The renaissance of Downtown Los Angeles that began in the
late 1990’s has attracted over $17.3 Billion of investment. With
many historic buildings having been converted into lofts, the
transformation continues today as numerous retail businesses and
restaurants are opening, and new mid- and high-rise residential
buildings are being built and in the planning pipeline.
Downtown LA’s residential growth has been unprecedented.
Since the passage of the Adaptive Reuse Ordinance in 1999
more than 22,000 new housing units have been constructed in
Downtown Los Angeles and another 7,400 additional residential
units are currently under construction. Of the new units, 6,509 are
market rate rental units and 69 are affordable units. With a current
95% rental occupancy rate, the long term demand for housing is
DODGER STADIUMWhen the Dodgers aren’t playing at home, the stadium hosts events throughout the year that make Dodger Stadium the place to be! According to mlb.com, in addition to the extensive renovations completed in 2013, future improvements and additional amenities are planned for 2020. One of the amenity improvements will be the Centerf ield Plaza. The new Centerf ield Plaza will create a stadium “front door” with almost two acres of unique restaurants, entertainment
and kids’ areas, and retail locations.
“SIGNIFICANT ADDITIONAL INVESTMENTS POTENTIALLY INCLUDE TRANSFORMATIONAL DEVELOPMENT OF DODGER STADIUM PARKING LOTS INTO A VIBRANT VILLAGE WALKING COMMUNITY, AND A PROPOSED CHAVEZ RAVINE PASSENGER AERIAL GONDOLA.”
Drive times shown without traffic from Subject Site
Downtown Los Angeles
Hollywood
Beverly Hills/Century City
Glendale
5 MIN
10 MIN
12 MIN
20 MIN
“THE $1.756 BILLION METRO REGIONAL CONNECTOR PROJECT, CONNECTING THE GOLD LINE TO THE 7TH STREET/METRO CENTER STATION AND BYPASSING UNION STATION, IS FORECASTED TO OPEN IN 2022.”
AFFILIATED BUSINESS DISCLOSURECBRE, Inc. operates within a global family of companies with many subsidiaries and related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent clients who have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the property described in this Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgement of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ interest or involvement in the sale or purchase of the Property. In all instances, however, CBRE, Inc. and its Affiliates will act in the best interest of their respective client(s), at arms’ length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s).
CONFIDENTIALITY AGREEMENTYour receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc.
If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc.
DISCLAIMERThis Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK.
The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner.